Qatar has pledged $15 billion of direct investments in Turkey

Turkish officials said Qatar has pledged $15 billion of direct investments for Turkey as it struggles with a currency crisis.

Officials from President Recep Tayyip Erdoğan's office said the pledge was made by Sheikh Tamim bin Hamad Al Thani, who met with the Turkish leader Wednesday.

Turkish Finance Minister Berat Albayrak, who is Erdoğan's son-in-law, and his Qatari counterpart Ali Sharif Al-Emadi were present at the talks in the capital Ankara.

Qatar's $15 billion investment in Turkey will be channelled into Turkish financial markets and banks, a government source told Reuters on Wednesday.

Turkish AKP government and Qatar, a very close US ally, have forged close bonds over the years, with Ankara supporting Doha during its standoff last year with other Gulf neighbours, including sending troops to a Turkish base there.

Turkey has been rocked in recent days by a sharp decline in the value of its lira after US President Donald Trump tweeted last Friday that Washington was doubling aluminium and steel tariffs for Ankara.